MAM
ace turtle appoints three senior leaders to drive business growth
Mumbai: ace turtle, a technology-native retail company has announced the appointment of three distinguished leaders to its senior management team. Rahul Rajan has been appointed as chief business officer – retail of fashion brands, Agnes Raja George as AVP and business head of Wrangler & central planning and Jitender Singh as AVP & business head of Lee. These strategic hires aim to bolster ace turtle’s growth and further its goal of revolutionising retail through technology.
Commenting on the appointments, ace turtle CEO Nitin Chhabra said, “We are excited to welcome Rahul, Agnes and Jitender to our leadership team. All of them bring extensive experience in retail and technology along with proven track records that will be invaluable as we continue to drive strong business growth. We continue to leverage our unique technology-driven operating model to launch new brands and scale the business of existing brands across India strengthening our position in the Indian retail industry and delivering exceptional value to our customers.”
Rajan will help drive growth across online and offline retail channels for all the fashion brands in ace turtle’s portfolio. He joins ace turtle with 15 years of experience, including seven years as a successful business operator and previously as a strategy and investment professional. Rahul’s expertise spans P&L management, strategy and business planning, business development and creating product and tech roadmaps. He joins ace turtle from Flipkart where he played a pivotal role in building new businesses in beauty, FMCG and fast fashion, and scaling complex multi-billion-dollar apparel businesses. He holds an MBA from IIM Mumbai.
George, with close to 23 years of experience in the fashion retail industry, Agnes specialises in P&L management, brand building, marketing, inventory planning, cash flow management and supply chain management. He has a proven track record in managing brands across department stores, exclusive brand stores, online marketplaces, and multi-brand outlet trade in India. Before joining ace turtle, Agnes founded and scaled the women’s wear brand De Moza and held various leadership roles at Landmark Group India, Aditya Birla Fashion and Lifestyle.
Singh brings 22 years of experience across online and offline channels, and across sports & fitness, lifestyle, FMCG and consumer durable categories. He has a strong background in building and leading direct and matrix teams to drive sustainable business growth. Before joining ace turtle, Jitender was senior director at Myntra, where he significantly grew the HRX and Nautica brands. His previous experience includes roles at Decathlon, 3M, Café Coffee Day, and TTK Prestige.
Since 2023, ace turtle has expanded its leadership team significantly to enable rapid and sustainable growth as it continues to expand its licensed brands portfolio. The company is the exclusive licensee of iconic global denim brands Lee and Wrangler, globally renowned toy retail chain toys “R” Us and Babie “R” Us and California-based casual wear brand Dockers for India and other South Asian markets.
Brands
Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
